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VPBank's shares surged to the ceiling price of 18,900 VND/unit during the May 14 trading session, driven by the announcement of the VPBank K-Star Spark International Music Festival featuring G-Dragon and CL. The session saw a trading volume exceeding 95.5 million units, with foreign investors purchasing nearly VND 322 billion worth of shares. Additionally, Haxaco's shares also hit the cap as the company discussed a significant real estate sale, contributing to a broader market rise with the VN index surpassing 1,300 points.
Billionaire Pham Nhat Vuong's Vinpearl chain has been officially listed on the Ho Chi Minh City Stock Exchange (HOSE) under the stock code VPL, with a market capitalization of nearly VND 130 trillion (approximately $5 billion). Starting May 13, 1.8 billion shares will trade at a reference price of VND 71,300 each, positioning Vinpearl among the top 15 companies by capitalization on HOSE. The company, part of the Vingroup ecosystem, operates 48 facilities across 18 provinces and cities in Vietnam.
Democratic senators have called for an investigation into Elon Musk's potential use of his government role to secure foreign deals for Starlink, his satellite internet service. They allege that Musk may have leveraged his position to gain market access and contracts in countries like India, Bangladesh, and Vietnam, raising concerns about self-dealing and breaches of public trust. The senators emphasized that public servants should prioritize serving Americans over personal financial interests.
Apple has commenced production at a new iPhone facility in Tamil Nadu, India, operated by Tata Electronics, focusing on older models. A second plant by Foxconn in Bengaluru, set to produce iPhone 16 models, will create up to 50,000 jobs by 2027. As India now accounts for 18% of global iPhone production, Apple aims to manufacture most US-sold iPhones there by 2026, amid ongoing US-China trade tensions reshaping global supply chains.
VPBank proposed a 5% cash dividend at its recent shareholder meeting, reaffirming its commitment to a continuous dividend policy while balancing growth capital needs. Chairman Ngo Chi Dung highlighted the bank's focus on restructuring efforts, particularly with GPBank, and plans to enhance its capital structure by increasing foreign ownership limits to 49%. CEO Nguyen Duc Vinh addressed concerns about bad debts linked to real estate projects and outlined strategies for profit growth in FE Credit and digital asset services.
VPBank aims for significant growth with a target of 30-35% profit increase annually from 2026 to 2029, focusing on loan growth, capital mobilization, and ecosystem expansion. The bank plans to restructure GPBank for profitability and enhance its digital strategy while maintaining a strong emphasis on asset quality and risk control. Additionally, VPBank is set to establish a life insurance company and a fund management firm to further develop its financial ecosystem.
Samsung is reportedly considering relocating part of its smartphone and electronics production from Vietnam to India due to a significant tariff increase on Vietnamese goods. This shift reflects a broader trend among tech firms to diversify production and leverage India's production-linked incentives, as the country aims for $500 billion in electronics exports by 2030. However, India faces challenges in scaling its electronics sector, which currently lags behind Vietnam's robust export figures.
Moody's has maintained the credit ratings for Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and FE CREDIT, upgrading FE CREDIT's outlook to "Stable." VPBank's financial strength is highlighted by a projected 20-22% credit growth and a 26% increase in profit plans for 2025, while FE CREDIT is set to achieve a pre-tax profit of nearly VND 515 billion in 2024, bolstered by a successful restructuring and digitization efforts.
VPBank aims for a profit target of VND 25,270 billion by 2025, reflecting a 26% increase from 2024, while total consolidated assets are projected to reach VND 1,130,000 billion, a 23% rise. The bank is enhancing digital transformation and maintaining a strong cash dividend policy, demonstrating commitment to shareholders. In Q1 2025, consolidated operating income rose 16.1% to nearly VND 15.6 trillion, with a pre-tax profit of VND 5,015 billion, supported by effective risk management and a focus on individual and SME lending.
Moody's has confirmed the credit ratings of Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and FE CREDIT, upgrading FE CREDIT's outlook to "stable." VPBank's strong financial foundation and growth prospects are highlighted, with expected lending growth of 20-22% and a profit plan of nearly $1 billion for 2025. FE CREDIT is set to achieve a pre-tax profit of nearly VND 515 billion in 2024, bolstered by a successful restructuring and digitalization efforts.
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